ALK-Abello (Buy, TP: DKK165.00) - Guidance raised again
On Friday evening, ALK raised its full-year guidance for the second time this year, once again related primarily to strong European tablet momentum, but also improved legacy performance. However, it also gave an update on its approval application for its house dust mite tablet in China, which is likely to incur delays. While this removes some upside potential short-term, we believe the stock could trade up >5% tomorrow on solid tablet momentum.Alk-Abello is engaged in the development and marketing of pharmaceutical products for the treatment, prevention and diagnosis of allergies. Co.'s product portfolio comprises allergy vaccines, emergency treatments and allergy diagnostics products. Co.'s allergy vaccines product offering comprises tablet vaccines, sublingual vaccines and subcutaneous vaccines. Co.'s emergency treatments product offering comprises products for the management of anaphylaxis. Co.'s allergy diagnostics product offering comprises allergen extracts for allergy testing, such as skin-prick tests.
DNB Markets is the investment banking arm of DNB Bank ASA and is focused primarily on the Nordic region, as well as internationally on niches such as global shipping, energy and related services, and seafood. DNB Markets offers services in FICC, Equities and Investment Banking advisory from offices in Oslo, Stockholm, London, Singapore and New York. Equity research coverage is offered on c250 Nordic companies. DNB was ranked no.2 in Extel Nordic Research 2017. The DNB Markets’ Credit and FICC Macro & FX Research teams are repeatedly highly rated by Prospera Nordic Institutional Investor Surveys.
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